Axsome Therapeutics’ (AXSM) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday,Benzinga reports. The brokerage currently has a $130.00 target price on the stock.

A number of other analysts have also recently issued reports on the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Monday, November 25th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.07.

Axsome Therapeutics Stock Down 0.2 %

Shares of NASDAQ:AXSM opened at $84.61 on Monday. The firm has a 50 day simple moving average of $92.95 and a 200-day simple moving average of $88.72. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $4.10 billion, a PE ratio of -12.96 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the previous year, the company earned ($1.32) earnings per share. On average, equities analysts predict that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics in the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter worth $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.